Desjardins Financial Security is changing the name of its seg fund family and adding new fund managers and a new fund to its line-up, effective October 29.

The classic designation of “segregated funds” is being replaced by “guaranteed investment funds,” which DFS says is more in line with the nature of the product and market trends.

The new name also reflects the company’s commitment to greater transparency and clarity, as it will begin with the Desjardins Financial Security acronym DFS, followed by the acronym GIF, which stands for guaranteed investment fund. From now on, Funds will be identified by the following designation: DFS GIF – name of fund category – name of asset manager. The designation Millennia III Funds will no longer be used.

“Using guaranteed investment funds, instead of ‘segregated fund,’ is a concrete way for us to simplify the investment terminology for our clients,” says Claude Paré, senior director, product development and marketing, individual savings, at DFS.

DFS is also pleased to welcome two new fund managers, Addenda Capital, which specializes in the management of bond portfolios generally reserved for institutional clients, and UBS Global Asset Management, a business group of UBS, one of the world’s leading financial services groups. Addenda and UBS will respectively manage the DFS GIF – Candian Bond – Addenda and the DFS GIF – American Equity – UBS.

A new Global Equity Fund managed by Alliance Bernstein, the DFS GIF – Global Equity – AllianceBernstein, is joining the DFS portfolio. AllianceBernstein is known for controlling the volatility of its returns as compared to world market returns, and for its extensive geographic diversification worldwide.